The sharp turnaround in the Dollar’s fortunes has dismayed many a trader, but there now seems to be a real US is the first to come out of recession trade developing. Usd/Jpy has continued to firm taking out offers at 98.00 before reaching 98.20. Further gains will be tough as Jamie pointed out earlier trendline resistance comes in at 98.25/30, but it does feel like we are slowly moving onto the old style of trading where positive economic news benefits the currency.
Usd/Jpy approaches trendline resistance at 98.25/30
Source: www.forexlive.com
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